[Cryptography] Drop Zone: P2P E-commerce paper

Peter Todd pete at petertodd.org
Sun Mar 29 10:35:23 EDT 2015

On Fri, Mar 27, 2015 at 09:43:57PM -0000, 17Q4MX2hmktmpuUKHFuoRmS5MfB5XPbhod at mail2tor.com wrote:
> As proposed, the use of testnet is a significant deviation from its
> current uses as a staging network for value transfers on mainnet. 
> Nonetheless, communication channels can be established over testnet in the
> same way they can be established over mainnet: by embedding messages
> inside transactions (Typically via OP_CHECKMULTI, though OP_RETURN is
> prefferable).  The reason for using testnet over mainnet is the reduced

A third way is via the relaxation of the IsStandard() rules for P2SH
scriptSig's in the recent v0.10 release:


This lets you embed full lines of text that are easily recoverable by
the strings utility:


I uploaded my script to do this to the blockchain; fixing the
indentation and associated bug in my script is left as an exercise for
the reader.

Big picture: that Bitcoin makes an excellent, if a bit expensive,
censorship resistant medium for proving the publicaiton of data may be
an economic exploit in the system, although there's very little we can
do about it; nothing we can do about it if what you need to publish can
be represented as hashes and signatures. For testnet's and pretty much
all alt-currencies the problem is even worse as the medium isn't
expensive; you have a whole range of security-cost tradeoffs to pick

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